The TCPA presents a unique challenge to organizations that rely on autodialers to call or send text messages. Organizations such as collection agencies — who were never meant to be under the purview of the Telephone Consumer Protection Act, but are squarely in its cross-hairs due to the technologies collectors use. Organizations must now go beyond identifying wireless phone numbers to further verify the current subscriber before auto dialing. However, this is increasingly difficult because phone data is constantly changing and wireless phone data is particularly difficult to verify.
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Is your agency thinking about utilizing a debt settlement solution as part of its business model? There are some important data points to keep in mind when thinking about beginning any kind of relationship with a debt settlement company. In this whitepaper from DS3, you’ll get a better picture of the debt settlement landscape. Regardless of what you or your organization thinks about debt settlement, incorporating strategies that address this population of accounts will affect your recovery rate and costs.
The high liquidity of probated estates, paired with potential brand exposure in the deceased collections space, has motivated many organizations to evaluate and implement specific strategies for identifying and servicing probate accounts. Download “Tracking Probate Activity: Portfolio Segmentation Tools for Strategic Recovery” now for strategic insight into this market segment!
Recent changes in outbound dialing legislation and consumer protection regulations, specifically changes to the Telephone Consumer Protection Act (TCPA), have the outbound dialing sector scrambling.
There is a perfect storm of dire conditions out there for patients and healthcare consumers: a slowly recovering economy; new relationships with insurance; regulatory changes. All of these have combined in ways that, challengingly, leave patients responsible for higher percentages of their medical bills.
These are the self-payors; and they’re directly affecting your bottom line as a healthcare provider.
There are risks when you throw a greater volume of information at semi-automated and manual systems, volumes that can tend to break those processes.
Within those risks, though, are opportunities for dramatic success. Ontario Systems has done the heavy lifting for you, presenting five ways to turn those risks into opportunities for your healthcare organization.
Compliance is just one reason more collection departments and agencies are looking to reduce operational risk. They’re applying analytics and optimization to ensure they’re making the right decisions and taking the most appropriate action for each debtor. This brief explains the expanded regulatory powers confronting the industry, and provides a “Compliance Checklist” you can use to evaluate and improve your compliance readiness.
From customer attitudes about debt and delinquency to the proliferation of mobile and social communication, the collections environment is undergoing profound change. In this shifting landscape, collectors who succeed will be those who understand change and embrace it. Read how to make the most effective use of people and resources in this changing landscape.
Complying with the myriad requirements presented by the ever changing regulatory, legislative and legal environment is the number one concern of all ARM industry members.
It’s the CFPB’s number one concern, too.
Taking stock of one’s CFPB Readiness is therefore crucial for agencies large and small and specifically for those who meet the definition of Larger Market Participant (more than $10 million in annual receipts); provide services to Larger Market Participants in the ARM industry; choose to operate as a Larger Market Participant; seek to identify and understand their compliance deficiencies and engage in continuous improvement; seek to foster a culture of compliance.
In an economic climate that can be described as post-recessionary yet in sluggish recovery, the accounts receivable management industry faces unprecedented challenges Regardless of payment medium, or collections market niche, the name of the game for ARM organizations remains the same: collect outstanding debt as efficiently and cost-effectively as possible while playing by the rules. […]